Business
Half Yearly Report For the Period Ended 30 June 17
Half Yearly Report For the Period Ended 30 June 17.
About this update from Kanabo Group Plc
[{"type":"text","content":"\n \nRNS Number : 3517R Spinnaker Opportunities PLC 21 September 2017 \n\n21 September 2017\nSpinnaker Opportunities plc (the \"Company\")\nHalf Yearly Report (Unaudited)\nFor the Period Ended 30 June 2017\n \nSpinnaker Opportunities Plc (LON: SOP), the main market-listed company focused on the execution of a material acquisition in the energy or industrial sectors is pleased to announce its Interim results for the period of seven months ended 30 June 2017.\n \nHighlights:\n· Listed on the Standard List in May 2017, raising £1.2 million\n· Company was created to seek a single material acquisition with a view to performing a RTO to generate an attractive capital return to its shareholders\n· Numerous potential acquisition opportunities were evaluated\n· Opportunities considered were weighted towards the oil and gas and the energy sector with some potential targets also in the supply chain and technology arenas\n· Continued focus on capital preservation\n· Post half year end the number of opportunities have been reduced further identifying a small number of the most attractive candidate\n· Spinnaker now intends to take discussions forward with the highest ranking of the businesses under consideration. \n \nChairman's Statement\nIt is with pleasure that I present the interim financial statements to shareholders for the period ended 30 June 2017.\nSpinnaker Opportunities Plc (\"Spinnaker\" or the \"Company\") was incorporated on 17 November 2016 and received its certificate to commence trading on 20 March 2017. On 17 May 2017 the Company raised £1.2 million in an Initial Public Offering on the Main Market of the London Stock Exchange.\nThe Offer, which comprised a Subscription and a Placing, was oversubscribed and comprised 24,000,000 New Ordinary Shares issued by the Company at 5p per Ordinary Share together with one Warrant to subscribe for one new Ordinary Share at 7.5p per new Ordinary Share. Gross proceeds were £1.2 million and net proceeds £1.1 million. The board invested an aggregate of £310,000.\n \nShortly after incorporation, the Company's year-end was adjusted to 31 December 2017 for convenience and therefore these results...